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Elon Musk, known for his diverse ventures, recently relinquished his title as the world’s wealthiest individual, falling behind Bernard Arnault, the founder of LVMH. Musk’s current position results from his involvement in technological, innovative, and entrepreneurial endeavors, sparking curiosity about his earnings in shorter timelines, such as per second.
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In this line, data acquired by Finbold indicates that as of mid-February 2024, Musk’s net worth was reported at $198.9 billion. Musk’s net worth is determined by his ownership stakes in various ventures: 20.5% in Tesla (NASDAQ: TSLA), 54% in Starlink, 42% in SpaceX, an estimated 74% in X (formerly Twitter), over 90% in The Boring Company, 25% in xAI, and majority ownership exceeding 50% in Neuralink.
Among the companies, only Tesla’s 2023 profits, amounting to $17.66 billion, are publicly available. Based on his 20.5% stake in Tesla, Musk earned $3.6203 billion from the company.
Therefore, calculating earnings per second involved dividing this total by the number of seconds in a year (31,536,000), resulting in an approximate figure of $114.80 per second; this translates to $6,887 per minute, $413,220 per hour, $9,917,280 per day, and $69,420,960 per week.
Significance of Musk’s earnings
The research highlighted the significance of Musk’s earnings despite dropping to second as the world’s richest person. According to the report:
“Elon Musk’s financial prowess is nothing short of remarkable. Despite a dip in net worth from last year, he remains one of the wealthiest individuals globally, largely due to his diverse array of successful ventures. Through Tesla’s electrifying innovations, SpaceX’s ambitious space endeavors, and his involvement in various other ventures, Musk continues to leave an indelible mark on the world stage.”
In the meantime, Musk’s status among the world’s wealthiest individuals faces threats from other names such as Jeff Bezos and Mark Zuckerberg.
Read the full story with statistics here: https://finbold.com/how-much-money-does-elon-musk-make-a-second/
